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Elizabeth Anne Fessenden, a director at Ampco Pittsburgh Corp (NYSE:AP), recently increased her holdings in the company. According to a filing with the Securities and Exchange Commission, Fessenden purchased a total of 3,780 shares of common stock over two days, March 24 and March 25, 2025. The company, with a market capitalization of $43.2 million, maintains a "GOOD" overall financial health score according to InvestingPro analysis. The shares were acquired at prices ranging from $2.16 to $2.27 per share, amounting to a total investment of $8,343.
Following these transactions, Fessenden’s direct ownership in Ampco Pittsburgh stands at 106,602 shares. The purchases reflect a continued confidence in the company, which operates in the pumps and pumping equipment industry.
In other recent news, Ampco-Pittsburgh Corporation reported its fourth-quarter 2024 earnings with an earnings per share (EPS) of $0.16 and consolidated net sales of $100.9 million, representing a 6.6% decline from the previous year. The Air and Liquid Processing segment of Ampco-Pittsburgh achieved record sales, showing an 11% increase year-over-year. The company is currently exploring options for its UK operations due to financial losses, which could include restructuring or closure. Additionally, Ampco-Pittsburgh received U.S. Navy funding to modernize its facilities, which supports the expansion of the Navy fleet. Looking ahead, the company anticipates improved volumes from major customers in 2025 and is considering expansion opportunities beyond North America. Ampco-Pittsburgh’s ongoing modernization efforts and strategic initiatives are expected to support its long-term growth. The company is also focused on working capital management and debt reduction as part of its strategic plans.
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